[512A Recalculating gains under section 511]
Income Tax (Trading and Other Income) Act 2005 (2005 c 5) | Legislation

[512A  Recalculating gains under section 511]

[(1)     An interested person may apply to an officer of Revenue and Customs for a review of a calculation under section 511 on the ground that the gain arising from it is wholly disproportionate.

(2)     For the purposes of this section an interested person in relation to a calculation under section 511 is a person who would be liable for all or any part of the amount of tax that would be chargeable under this Chapter—

(a)     if the gain were not recalculated, or

(b)     if all rights under the policy or contract had been surrendered immediately after the surrender or assignment of rights which gave rise to the calculation.

(3)

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